Sula Iron & Gold announced that the company is set to carry out an extended drill programme on its Ferensola Gold Project located in north-east Sierra Leone after securing £500,000 in funding. The company has also signed a contract for Energold Drilling to perform the drilling in November. Under the agreement, Energold is set To mobilize two drilling rigs on 1 November in the Ferensola license area.

The drill programme will be overseen on-site by SRK Consulting and Howard Baker to ensure that the optimal technical structural data is gained from the programme. According to Sula, the programme will consist of a total of 1,500m, which may be sufficient to formally engage with a potentially interested tier 1 international gold company. The 153km² Ferensola project is highly prospective for iron, gold and coltan.